If you have purchased shares of JAKKS Pacific, Inc. (NASDAQ:JAKK) between February 21, 2013 and July 17, 2013, call 1-800-934-2921 right now to protect your rights.
Filing deadline: 09/23/2013
The complaint in the U.S. District Court for the Central District of California has been filed on behalf of any entity that purchased shares of NASDAQ:JAKK common stock between February 21st 2013 and July 17th 2013. The complainant is alleging that JAKKS Pacific, Inc. as well as some of the company's directors and officers have acted in violation of Federal Securities Laws, more specifically Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as well as Rule 10b-5 under the act.
A report released by JAKKS Pacific, Inc. indicated that the company's total revenue per year went down from $677.75 million for the year 2011 to $666.76 million for 2012. At the same time, Net Income is reported to have dropped from $8.47 million in 2011, all the way down to a Net Loss reported at $104.80 million for the year 2012.
The release of the report has had a large impact on shares of JAKKS Pacific, Inc. In fact, NASDAQ:JAKK was trading at $21.04 per share in April 2011, but dropped to just $11.87 per share in November of 2012.
After the close of trading on July 17th 2013, JAKKS Pacific, Inc. has released a report that detailed second quarter results, which ended on June 30th 2013. The company's guidance was for 2013 was also changed and the company released an announcement showing that due to the current business climate, its quarterly dividend was now suspended and will only be re-evaluated once the company is profitable again.
Own shares of JAKKS Pacific, Inc. (NASDAQ:JAKK)? Contact us to protect your rights.
If you have purchased shares of JAKKS Pacific, Inc. (NASDAQ:JAKK) between February 21, 2013 and July 17, 2013, call 1-800-934-2921 right now to protect your rights. Complete the form on this page or call attorney Bill Kyros at 1-800-934-2921 right now to protect your rights.